Prices rise as the minimum wage increases in several states

Posted by $ nickursis 1 year ago to Government
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Now this is about as simple as it gets, in describing capitalism, and the effect the looters have on producers. Raise your costs, raise your prices. So, the minimum wage is actually used to continue to loot everyone, as we all have t pitch in to pay artificial increases in goods and services. Value and competition are...uh...not needed...
SOURCE URL: https://www.yahoo.com/finance/news/minimum-wage-rising-20-states-154604768.html

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  • Posted by freedomforall 1 year ago
    So, the unskilled laborers see the headline and plan to move to the 29 states with higher minimum wages.
    When they get there they can't find a job because the businesses was the headlines and moved to one of the 21 states with low minimum wages.
    Sales of tents for the homeless do increase temporarily, while revenues decline and welfare costs go up in the states with higher minimum wage laws - enslaving the unskilled as was planned by the socialists in power. Just another way socialist looters betray the people they claim to serve, since they also push for more illegal immigrant unskilled labor to take the few remaining jobs (and to provide more illegal votes for socialists.)
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  • Posted by red6rick 1 year ago
    An anecdotal note to the minimum wage discussion: at almost any time in history, since the minimum wage was enforced, one hour of minimum wage (before taxes!) will buy a "fast food" lunch for one person. True today at Wendys, McDonalds, etc. True in the 1930's at the lunch counter at Woolworths.
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  • Posted by term2 1 year ago
    My wmall company will raise its prices in about 30 days to compensate for wage increases. Inflation is the culprit- it just changes the numbers for everyone and reflects the actual value of the dollar.

    If we stopped deficit spending and government borrowing, this wouldnt the problem that it is. Prices are not going up; the value of the dollar is going down
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  • Posted by CircuitGuy 1 year ago
    I wonder if sales are also down. Supply-and-demand theory says that increased costs should shift the supply curve, and markets for min-wage-labor-intensive goods and services should find a higher equilibrium price and lower quantity produced.

    My impression is politicians always fight about minimum wage, but they always keep it near the market price for unskilled labor, so it never has too much effect. The small effect it does have creates surplus supply of labor, which means more people wanting min wage jobs than can find them. But if they really raised min wage well above the market price, employers and employees would find sneaky ways to cheat the rule, just as people find ways around laws against sex and drug trade.
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    • Posted by $ blarman 1 year ago
      Only leftist politicians fight about increasing the minimum wage because they invented it. And want to know the real reason why?

      Labor unions and racism. The Democrats had a political based they pandered to which didn't want competition from cheap labor sources like blacks and immigrants. The minimum wage was a way to appease their base and persecute a group of people whom the Democrats thought were morally inferior anyway. It's been their history since Andrew Jackson.
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  • Posted by DrZarkov99 1 year ago
    The midwestern states don't have this problem. The minimum wages here are driven by our solid economies, not political decree. Nebraska, the Dakotas, Kansas, and Oklahoma are energy-rich, with strong aerospace and medical industry, so there's a lot of competition for labor. Oklahoma, for example, doesn't have a state minimum wage, but the market-driven minimum wages are now approaching the $15/hr level. The cost of living in these states is low, so the market driven wages are equivalent to a $22-24/hr New York wage.
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  • Posted by $ Stormi 1 year ago
    Some states may find business leaving, as the cost of hiring goes up. The more of a foe a state becomes to capitalism, the more likely another sate will offer incentives, beyond lower wages.
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  • Posted by $ allosaur 1 year ago
    Uh, duh. Da prices dey rose?
    Gee jumpin' Jupiters!
    Whut coulda made dat happen?
    Oh, ah know! Ah know!
    It has ter be Trump's fault!
    Dat's it! Wuz Trump dat do dat.
    Yeah, cuz he's a racist.
    Dump Trump! Dump Trump!
    A-huck! A-huck!
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